Microsoft has just announced that CEO Steve Ballmer is planning to retire from his post within the next 12 months. Why Ballmer is retiring? Is he afraid of future? What are his reasons behind this big decision?
A big name is going to depart from Microsoft. Tech giant has just announced officially about its CEO Steve Ballmer's retirement plan. The company states that CEO has taken decision to retire from his post within next 12 months time period. In this due time, a new CEO will be selected for the firm. Both internal and external candidates will be considered for the post. On the other hand, rival Apple's CEO, Tim Cook is making revolutionary decisions for its company. But Ballmer decides to leave. Why he is retiring at this tough time of competition?
Ballmer gives answer to the question. He officially states that, “There is never a perfect time for this type of transition, but now is the right time. We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company’s transformation to a devices and services company. We need a CEO who will be here longer term for this new direction.”
A really sad news. Yet, Steve Ballmer will continue to lead Microsoft until the hiring of new CEO. This hiring process will be done within an year. Microsoft board of directors has formulated a special committee to complete the hiring process with the help of top executive recruiting firm, Heidrick & Struggles International Inc. The chairman of this special committee is John Thompson and its members include Microsoft founder and Chairman of the Board, Bill Gates, himself. Other two members are Chairman of the Compensation Committee and the Audit Committee, Steve Luczo and Chuck Noski.